At What Point Can We Start Reading Into the Unemployment Numbers?
As Marc notes, the Obama administration’s reaction to an unemployment number that remained unchanged at 8.2% is that it is “a step in the right direction”, as opposed to a Bush era unemployment rate of 5.6% which, according to candidate Barack Obama, was “too early to celebrate”.
Further to this month’s unemployment figure, the Obama administration issued a statement several paragraphs long which included the following admonition.
[I]t is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available
Well, that’s probably a fair statement. Except that, as someone over at the Romney campaign alertly noticed, this is the thirty first month in a row that the Obama administration has issued this disclaimer.
Over at The Blaze, Becket Adams summarizes
The White House has been telling people that they shouldn’t “read too much into” unemployment figures since November 2009! In fact, the White House has said those exact same words 30 times over the last three years.
A commenter on The Blaze postulates that TOTUS is stuck. Whatever the cause, the result is that the statement has lost some of its effectiveness and ability to reassure.
The Obunko Administration would have you watch the Wizard of Oz. “Pay no attention to that man behind the numbers”. Obunko fiddles while DC burns. Just follow him down 1600 Lemming Ave.
When one ponders the actions of the government with regard to the economy, it is well to remember that the “Great Depression” ended about 4 years earlier in Europe than the U.S.
Still, one wonders at the number of “programs” created by the government. One of my favorites was the “CCC” (Civilian Conservation Corp) designed to employ the youthful unemployed in various government projects. In 1943, when war production was at it peak and unemployment was essentially zero, the CCC was still seeking an increase in it’s budget.
Critics may point out that Europe was on a war footing prior to us which resulted in an uplift to their economies. Still, many economists believe that it was not government activity, but Mr. Hitler and Mr. Tojo, that drew us out of the Depression.
“A step in the right direction” isn’t exactly celebrating is it? The President said two different things at two different times under two different circumstance… Big deal. Obunko, Anthony? If you’re going to detract from the value of your comments with petty names you might at least try and make them humorous, no? Maybe at least meaningful? What the hell is Obunko supposed to imply anyway? Lame.
Yes Rich…. Obunko…don’t give a damn you consider it lame. I consider it lame that you enable the traitor-in-chief. There is no humor in this country being taken down the toilet by a tin horn phony with delusions of grandeur. Follow him if you wish….into the Crap Funhouse.